RE:RE:Biden is imposing sanctions now, any thoughtsAn overlooked point on the world stage is I think China is so much harder to sanction if they caused problems then Russia.
China is building an economy for the future while Russia has dinosuar high carbon economy.
China has 5 major solar cell plants....they have so much of the EV battery materials....actually more criticial to the world. They even manufacture mirco chips.
The olympics was all high tech and run by renewable energy.
Putin has just speed up the amount of renewables Europe will install in 2022 and China will benefit from the solar cell sales to Europe and the amount of EV cars china is cranking out.
The world will still need many years to adopt Evs so oil prices will be fine but Europe will have incentive to be first world market to really adopt EVs. And that is how Europe hurts and handles Putin.
Carbon taxes are high in Europe.Could easily backfire on Putin.
Russian stock market has crashed and the ruble has sunk...I can't imagine the upper russian class are that thrilled by this.
kavern23 wrote: Hard to say how this all will go down...dow futures were down 500 last i looked.
So far the Russia news has moved natural gas the most.
Oil went up to 94 on a holiday as expected but is down to 1 dollar so far in over night to 93 range.
NG moved up 6 percent today and it obviously due to a pipeline shipping Russian Gas goes through Ukriane and risk to something happening.
So far the sanctions are just to those two regions donetsk and luhansk.
The spread betwen brent and wti has moved to 4 dollars...4.07 right now is Brent over WTI.
This was like 1 dollar spread a week ago.
It signals the market does expect USA to increase production quite fast.
Interesting times for sure.
WallStPirate wrote: What will the sanctions cover? OIL Gas Fertilizer?
Biden to impose sanctions over Putin's recognition of breakaway Ukraine regions
https://www.axios.com/putin-ukraine-donetsk-luhansk-republics-reaction-ca0561f6-1d81-4c5a-8f2d-a8e129e0043c.html